Notes to SEFA
Title: FEDERAL ASSISTANCE NOT INCLUDED IN THE SEFA (UNAUDITED)
Accounting Policies: GENERAL
The accompanying schedule of expenditures of federal awards (SEFA) presents the activity of all federal financial assistance programs of SouthEast Alaska Regional Health Consortium (SEARHC). SEARHC’s reporting entity is defined in Note 1 to SEARHC’s financial statements. Federal financial assistance received directly from federal agencies as well as federal financial assistance passed through other government and local agencies is included on the schedule.
BASIS OF ACCOUNTING
The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 1 to the SEARHC financial statements. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the SEFA represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. SEARHC has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: SEARHC has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Not included in the total expenditures of federal awards, as presented in the SEFA, is donated personal protective equipment (PPE), from federal assistance passed through other agencies, in the amount of $152,888.
Title: RECONCILIATION OF SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS TO THE FINANCIAL STATEMENTS
Accounting Policies: GENERAL
The accompanying schedule of expenditures of federal awards (SEFA) presents the activity of all federal financial assistance programs of SouthEast Alaska Regional Health Consortium (SEARHC). SEARHC’s reporting entity is defined in Note 1 to SEARHC’s financial statements. Federal financial assistance received directly from federal agencies as well as federal financial assistance passed through other government and local agencies is included on the schedule.
BASIS OF ACCOUNTING
The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 1 to the SEARHC financial statements. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the SEFA represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. SEARHC has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: SEARHC has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The following is a reconciliation of federal revenues reported in SEARHC’s financial statements to federal expenditures reported in the SEFA:
Compact and grant support revenue, as reported in the
statement of activities $ 111,099,686
Plus: IHS Compact pass-through funding recognized in the SEFA but
not in the financial statements 623,331
Grant revenue reported as miscellaneous income in the
financial statements 102,968
Provider Relief Fund revenue reported in the current year SEFA,
recognized as revenue in the prior year financial statements 2,521,824
IHS donated land reported as contributed capital in the financial
statements 74,785,178
Less: State of Alaska financial assistance (1,647,600)
Federal share of expenditures as reported in the SEFA $ 187,485,387